Competitive Technologies Licensee Announces Hepatitis B Product Development Program

Ribozyme Pharmaceuticals Presents Study Results

Fairfield, Connecticut, UNITED STATES


FAIRFIELD, Conn., Sept. 27, 2000 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) confirmed today that its licensee, Ribozyme Pharmaceuticals, Inc. (Nasdaq:RZYM) has completed a cell culture study using several ribozymes designed to inhibit Hepatitis B replication. The data demonstrated potent anti-viral effects of the ribozymes in several model systems. In response, RZYM has announced a formal product development program for Hepatitis B Viral (HBV), and plans to choose an optimum ribozyme to enter toxicology studies in the near future.

Competitive Technologies has exclusively licensed the ribozyme technology to Ribozyme Pharmaceuticals. Revenues generated from sales of approved RZYM products using CTT technologies will produce royalties for CTT.

"All progress towards the treatment of this debilitating disease is encouraging," said Frank R. McPike, President of CTT. "We are pleased to see the positive results of the anti-HBV study."

Dr. Lawrence M. Blatt, RZYM's Vice President of Research, presented the results of the study, "Synthesis and Characterization of Nuclease Resistant Ribozymes Directed Against HBV RNA," at the 4th Shanghai International Symposium on Liver Cancer and Hepatitis (Hepa 2000).

RZYM indicated that chronic Hepatitis B afflicts over 300 million people worldwide. In the United States approximately 1.25 million individuals are chronic carriers of HBV as evidenced by the fact that they have measurable hepatitis B virus surface antigen in their blood. In regions of higher prevalence, such as in most of Asia, HBV carrier rates range from 7% to 20%. Chronic carriers are at high risk of progressing to liver cirrhosis, hepatocellular carcinoma and death.

Ribozymes are the product of Nobel Prize winning science and are synthetically engineered to act as "molecular scissors" capable of cleaving target RNA in a highly specific manner.

Competitive Technologies' client RZYM, located in Boulder, Colorado, is the acknowledged leader in ribozyme therapeutic development. RZYM is partnered with Eli Lilly for development of an anti-Hepatitis C virus ribozyme which is in clinical trials designed to study safety and to assess the effect of the compound on HCV viral RNA levels in chronic Hepatitis patients. RPI is partnered with Chiron Corporation for the development and commercialization of ANGIOZYME(tm), an anti-angiogenic ribozyme designed to inhibit the growth of new blood supplies to tumors and prevent tumor growth and metastasis. ANGIOZYME is in Phase I/II clinical trials in cancer patients at the Cleveland Clinic. RPI is also partnered with an affiliate of Elan Corporation plc for development and commercialization of HERZYME(tm), an anti-HER-2 ribozyme for treatment of breast and other cancers, through RPI's subsidiary Medizyme Pharmaceuticals Ltd.

About Competitive Technologies, Inc.

Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience make it a valuable partner for inventors, companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients and licensees include: Sony, Matsushita Electric Industrial, The University of Colorado, NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.

For more information on CTT: http://www.competitivetech.net or e-mail: ctt@competitivetech.net

For information on RZYM: http://www.rpi.com

Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws and are not guarantees of future performance. These statements involve risks and uncertainties related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's Form 10-K for the year ended July 31, 1999 and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.



        

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